Male   Female
  • Why is estate planning important for my family?
  • December 23, 2013
  • parents estate planningBy LifeQuotes.com

    Estate planning is a topic many do not want to address. No one wants to think about losing the ones they love. A life without you may be a difficult concept to embrace. But it is important to take care of it as soon as possible. Unfortunately, in life, anything can happen.

    Whole life policies, while often carrying higher premiums, may offer investment opportunities as well as death benefits for those left behind. Consumers with large mortgages or young children may look into term-life insurance, which usually costs less and provides coverage for a specific period of time. Many term policies can cover a 10 to 20 year period that can actually provide some income after you are gone.

    There are several other factors for persons with young children to consider.  When planning their estate, they should seriously look into who will take care of their young ones if they suddenly pass away. A family member or best friend may be a good choice, but should be vested accordingly.

    “You can get somebody who really cares about the child and takes care of them, but the temptation when they get into financial trouble is to dip into the child’s money,” Frank Allen Jr., an estate-planning lawyer in Washington, says. “That’s something that nobody intends to do, but it happens.”

    Those with significant savings or real estate may want to turn to a lawyer for guidance when planning their estate, which would include writing a legal will and documenting where your possessions are to be transferred.

    Protecting the financial future of your loved ones after your death may be one of the most important decisions you make during your lifetime.

    Comparing life insurance quotes is a good place to start.

  • Category: Articles Library, Life Insurance, Tips, Videos

Leave a Reply

Archives

About

Consumer Insurance Guide SM provides a wide selection of originally-authored articles and expert advice targeted to the self-directed insurance shopper. Our mission is to provide consumers with useful, money-saving information on all things having to do with making sound insurance purchase decisions.

Consumer Insurance Guide SM is owned by Life Quotes, Inc. 8205 South Cass Avenue, Darien, IL. For editorial, content feeds, advertising and lead purchase opportunities, contact Robert Bland at bob@lifequotes.com.

Originally founded in 1984 as Quotesmith Corporation, Life Quotes, Inc. owns and operates www.consumerinsuranceguide.com and www.lifequotes.com, two online consumer insurance information services that cater to the needs of self-directed personal and corporate insurance shoppers.

About Us  |   Contact Us  |   Press Releases  |   The Best Privacy Policy  |   Life Insurance  |   Careers
For Agents & Brokers  |   Site Map  |  


Copyright ©1984-2015 Life Quotes, Inc., 8205 South Cass Avenue, Suite 102, Darien, Illinois. Life Quotes, Inc. and certain of its personnel are licensed as insurance agents, brokers or producers in all states. CA agent #0A13858, LA agent #200696, MA agent #333509159. dba Life Quotes Insurance Services in CA under agent #0827712, in LA under agent #205078. dba Life Quotes Insurance Services, Inc. in UT under agent #90093. All rights reserved. Telephone (630) 515-0170. Founded 1984.
10.1.1.86